BAB revenues $609,000, net income $168,000
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For the nine months BAB had revenues of $1,669,000.
For the nine months ended August 31, 2015, BAB had revenues of $1,669,000 and a net income of $9,000, with $0.00 (zero) earnings per share, versus revenues of $1,906,000 and net income of $471,000, or $0.06 per share for the same period in 2014.
The company recognized revenue of $200,000 from an International Master Franchise Agreement in 2014 versus no such agreement in the same period in 2015.
In addition, an expense of $243,000 was incurred in 2015 relating to the settlement of a lawsuit against BAB Operations, a wholly owned subsidiary of BAB, which involved the 2001 lease assignment of a Company-owned store that was subsequently franchised.
Total operating expenses for the quarter ended August 31, 2015, were $482,000, versus $439,000, in 2014.
Total operating expenses for the nine months ended August 31, 2015 were $1,668,000 versus $1,425,000 for the nine months ended August 31, 2014. The operating expenses for the nine months in 2015 include the $243,000 legal settlement as explained in the previous paragraph. ■